Benjamin Edwards Inc. Boosts Holdings in Trimble Inc. (NASDAQ:TRMB)

Benjamin Edwards Inc. increased its holdings in Trimble Inc. (NASDAQ:TRMB) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,769 shares of the scientific and technical instruments company’s stock after buying an additional 1,753 shares during the quarter. Benjamin Edwards Inc.’s holdings in Trimble were worth $1,273,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRMB. Generation Investment Management LLP boosted its holdings in shares of Trimble by 89.5% in the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after buying an additional 5,796,030 shares during the last quarter. Victory Capital Management Inc. raised its stake in Trimble by 1,387.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after acquiring an additional 3,589,249 shares during the period. Norges Bank bought a new stake in Trimble during the 4th quarter worth approximately $132,319,000. Lazard Asset Management LLC raised its stake in Trimble by 25.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock worth $164,087,000 after acquiring an additional 516,789 shares during the period. Finally, Contour Asset Management LLC raised its stake in Trimble by 14.6% during the 4th quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock worth $185,126,000 after acquiring an additional 442,131 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Up 3.7 %

Shares of TRMB opened at $60.20 on Friday. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. The firm has a fifty day moving average price of $55.24 and a 200-day moving average price of $57.48. The firm has a market capitalization of $14.70 billion, a P/E ratio of 62.71, a P/E/G ratio of 2.63 and a beta of 1.48. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last issued its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company had revenue of $870.80 million for the quarter, compared to analysts’ expectations of $862.50 million. During the same period in the prior year, the business earned $0.51 EPS. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. Equities research analysts expect that Trimble Inc. will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on TRMB. Oppenheimer restated an “outperform” rating and set a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday, August 19th. Robert W. Baird lifted their price objective on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trimble has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Company Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.